Texas Almanac, 1941-1942 Page: 296
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296 TEXAS ALMANAC -1941-42
TOTAL LEGAL RESERVE, FRATERNAL AND
ASSESSMENT LIFE INSURANCE IN
FORCE IN TEXAS.
Total legal reserve fratern,,al and assesment
life business in Texas as of Dec 31, 1931, as \
as follo,,s
Number policies all Texas companies 2,469,460
Amount insurance in force Texas
companies ....... ..... 1,619 287,865
Number policies all out-of-state
companies ... ... . 1,603,211
Amount Insurance In force all out-
of-state companies....... .....$2,055,799,844
Grand total policies n force in
Texas ....................... 4,072,671
Grand total life insurance in force in
Texas ..........................$3,675,087,709
STATE-WIDE MUTUAL ASSESSMENT LIFE
INSURANCE COMPANIES
There were thirty-one state-wide mutual assess-
ment life insurance companies operating in Texas
under provisions of House Bill No 303, FortS-
Third Legislature, as of Dec 31, 1939, according
to the report of the Insurance Commission Total
membership was 146 928, receipts of the dear were
$3,231,976.37, and claims paid were $1,826,281 27.
BURIAL ASSOCIATIONS.
There were 134 burial associations operating in
Texas as of Dec 31, 1939, under provision of
Senate Bill 135, Acts of Forty-Sixth Legislature,
number of members, 295 875, mortuary fund,
8203,601 32., expense fund. $193.467 90, claims and
claim expenses paid $146,050 88
COUNTY MUTUAL FIRE AND STORM
ASSOCIATIONS
There were tent -two county mutual fire and
storm associations operating in Texas as of Dec
31, 1939, premiums received during 1939,
8345,097 80; amount paid members during 1939,
8279,700 34, insurance in force Dec 31, 1939,
$94,164,404 41TEXAS BUSINESS OF FIRE AND MARINE
COMPANIES
Data belo%\ are for the calendar ear 1939,
according to the State Board of Insurance Com-
missioners Only Texas business is included
Business included fire, motor vehicle , torrado,
hall ocean marine, inland na igation, sprinkler
leakage, riot, ciil commotion, explosion and mis-
cellaneous insurance
Stock Fire and Marine Companies.
Premiums Losses
Recel ed Paid
Texas companies ......... 89.420,358 83,945.617
Companies of other states. 31,815 521 15,222,239
Companies of foreign coun-
tries . ............... 4 560,118 1,842,417
Total stock companies .845,795,997 $21,010,273
Mutual Fire and Marine Companies
Premiums Losses
Recein ed Paid
*Texas companies ........ S95.314 $322,932
Companies of other states. 1.665 853 599 189
Total mutual companies. 82.625,167 8922 121
*Including figures of one mutual hail association
Lloyds
Premiums Losses
Receltied Paid
All companies............ $1,520,642 $498,373
Reciprocals
Premiums Losses
Recel~ed Paid
Texas companies ...... $1,334,381 $616,095
Reciprocals of other states 977,301 459,608
Total reciprocals ..... ,311,682 $1,075,703
Casualty and Surety Companies.
Premiums Losses
Recent ed Paid
Texas companies .......$11650,676 $6,403,100
Companies of other states. 24,742,879 9,191,940
Companies of foreign coun-
tries .... 1 583,738 716,247
Total casualty, surety $37,977,393 $16,311,287Texas Banks-Number, Resources.
There were 839 chartered banks in Texas,
of which 446 were national banks and 393
were state banks, according to latest avail-
able call figures (Dec 31 1940. for national
and June 30. 1940. for state banks). As of
these respective call dates national banks had
total resources of $1,695.662.000 and state
banks had resources of $236,806.794, including
savings The consolidated statement repre-
sents approximately the peak of resources in
the entire history of Texas banking Immedi-
ately before the depression (December state-
ment of 1928) total bank resources of Texas
reached a peak of $1,565,000,000, of which
$1,230,000,000 were national bank resources
and $334,000.000 state bank resources They
fell to $966,000.000 at the June call of 1933,
and have climbed steadily since that date
Total bank resources of Texas at the begin-
ning of the World War (Dec 31, 1914) were
$506.569,000, of which $377,516,000 were na-
tional and $129,053,000 were state bank re-
sources.
State banks were not permitted under the
original draft of the present State Constitu-
tion, but were authorized by amendment in
1904. (Sec. 16 of Art XVI ) By February,
1921, there were 1,036 state banks, having
$381,612,000 of resources At the same time
there were 557 national banks, having $455,-
268,000 of resources. National banks reached
their peak number at the call of June 30,
1926, when there were 662 with $969,499 000
of resources. For fifteen years the number
of banks has declined in Texas (as elsewhere
in the United States), though resources ofboth national and state banks have increased
appreciably since the depression low in 1933
Banks, Resources, 1914-1940.
Table shoss number of state and national
banks and total combined resources for each
December statement for the period, 1914-1940.
No Resources No Resources
Year.* Banks. (000's) Year" Banks (000's)
1914...1,382 $506,370 1928.. 1,345 1,565 339
1915...1,365 567.867 1929...1,308 1,456.903
1916...1,366 774,206 1930...1,215 1,327,433
1917...1,413 947,699 1931...1,102 1,101,591
1918...1,427 891,859 1932...1,023 1,030,999
1919...1,500 1,370,986 1933... 934 1,086,287
1920...1,587 1,171,374 1934... 916 1,261,423
1921...1,555 1,025,995 1935... 896 1,356,291
1922...1,527 1,161,948 1936... 882 1,533,109
1923.. 1,523 1,310,738 1937... 868 1,560,431
1924...1,505 1,391,021 1938 .. 855 1,636,710
1925...1,490 1,357,090 1939*.. 842 1,800,339
1926.. 1,438 1,310,668 1940*.. 839 1,932,468
1927.. .1.391 1,463.170
*Figures art- from December statements, except
1939 which is from statement of October, and
1940 which is national bank statement of Decem-
ber and state bank statement of June.
FEDERAL RESERVE BANK.
Texas is in the Eleventh (Dallas) Federal
Reserve district which consists of the whole
of Texas, twen:ty-six counties in the northern
part of Louisiana, eight counties in southeast-
ern Oklahoma, eighteen counties in southern
New Mexico, and five counties in southern
Arizona The Federal Reserve Bank is locat-
ed at Dallas with branches at Houston. San
Antonio and El Paso Chairman of the BoardFIRST NATIONAL BANK
MEMEIN DALLAS
MEMBER F. D. 1.C.
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Texas Almanac, 1941-1942, book, 1941; Dallas, Texas. (https://texashistory.unt.edu/ark:/67531/metapth117164/m1/298/: accessed March 28, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas State Historical Association.